Economic Development Strategy 2013-2017 - City of … Tourism ... “An inviting city, diverse & alive with activity, designed for a bright future ... Key Economic Development Issues

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ATTACHMENT 1

2013 – 2017 Economic Development Strategy &

Action Plan

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Mayor’s Message ......................................................................................................................... 3

Background ................................................................................................................................. 4

Business Demographics ...................................................................................................................... 6

Vision for Monash ........................................................................................................................ 7

Economic Vision .................................................................................................................................. 8

Strengths of Monash ........................................................................................................................... 8

Key Economic Development Issues and Factors ................................................................................. 9

Role of Economic Development .................................................................................................. 10

1. Key Strategic Direction - Business Support .............................................................................. 11

1.1 Information and Support Services .......................................................................................... 11

1.2 Training Programs & Workshops ............................................................................................ 12

1.3 Marketing & Communication .................................................................................................. 13

1.4 Events & Networking .............................................................................................................. 14

1.5 Business Month ....................................................................................................................... 15

1.6 Tradeshows ............................................................................................................................. 15

1.7 Home-Based Business ............................................................................................................. 16

1.8 Monash Enterprise Centre ...................................................................................................... 17

2. Key Strategic Direction - Economic Precincts ........................................................................... 18

2.1 Activity Centres ....................................................................................................................... 18

2.2 Major Developments within Activity Centres ......................................................................... 20

2.3 Technology Precinct ................................................................................................................ 22

3. Key Strategic Direction - Infrastructure Development & Sustainability ..................................... 25

3.1 Transport ................................................................................................................................. 25

3.2 Streetscapes ............................................................................................................................ 26

4. Key Strategic Direction - Attraction and Investment Strategies ................................................ 29

4.1 Tourism ................................................................................................................................... 29

4.2 Investment Attraction ............................................................................................................. 30

Monitoring & Evaluation ............................................................................................................ 32

Contact Details .......................................................................................................................... 33

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Mayor’s Message

I am pleased to present the Monash Economic Development Strategy & Action Plan 2013 –

2017.

Our vision for Monash is to have “An inviting city, diverse & alive with activity, designed for

a bright future”. To help achieve that vision, we have a “first for business” approach which

aims to support a thriving and sustainable economy.

The Strategy & Action Plan will guide Council’s work over the next four years to facilitate

business growth and economic investment in Monash.

The Strategy & Action Plan will focus on four key strategic areas:

Business Support

Economic Precincts

Infrastructure Development & Sustainability

Attraction and Investment Strategies

The Strategy & Action Plan recognises Council’s ongoing commitment to provide high

quality services, programs and events for businesses as well as individuals looking to start a

business.

Monash has a unique range of businesses with the headquarters of many national and

international organisations based within the municipality.

We are home to Victoria’s most substantial innovation cluster with the municipality’s

notable features including Monash University’s Science, Technology, Research and

Innovation Precinct and the Australian Synchrotron.

We are grateful to members of local business communities for their ideas and feedback

which has helped develop this comprehensive Strategy & Action Plan. This included the

Economic Development Forum Committee members, AusIndustry, the Monash Enterprise

Centre, trader associations, the Monash Volunteer Resource Centre and Council staff.

The actions outlined in this will be implemented over the next four years.

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Background

Monash is one of Melbourne’s most populous municipalities, home to about 177,970

people and 65,498 households. It is located 20 kilometres south east of the CBD in

Melbourne’s fastest growing population corridor.

Monash contributes significantly to the region’s employment base and it has the largest

number of both businesses and jobs of all south eastern municipalities.

Monash is a major generator of wealth in the region and an important education and

employment hub with the municipality being home to Monash University and Holmesglen

TAFE.

The Monash Enterprise Centre is a significant asset as the Centre is the only business

incubator located in the south eastern metropolitan region that supports a significant

number of both onsite and virtual tenants to facilitate business growth.

Monash has also developed a reputation as a high technological cluster for industry. It is

central to the South East Melbourne Innovation Precinct (SEMIP) which is a significant

innovation cluster, including the Monash University’s Science, Technology, Research and

Innovation Precinct, CSIRO, the Australian Synchrotron and the Monash Medical Centre.

The headquarters of several major technological companies are also based in the area.

These include Bosch Australia, NEC Australia, Biota Holdings, Toyota Research,

Nanotechnology Victoria, the Australian Regenerative Medicine Institute and Australian

Stem Cell Centre. These companies provide good synergies and the momentum for further

innovation in the precinct.

Monash is a key stakeholder in the South East Melbourne Innovation Precinct (SEMIP) which

focuses on the expansion of existing regional innovation capabilities and networks. The

vision for SEMIP is to become internationally recognised as ‘the innovation business and

knowledge capital of the Asia Pacific’. The aim for the SEMIP Strategy is to establish the

Precinct as a dynamic hub of manufacturing, science services, advanced materials,

engineering and medical/health knowledge-intensive industries.

In February 2013 the Federal Government announced its $504.5 million Innovation Industry

Precincts initiative. This initiative is part of the Federal Government’s $1 billion Jobs Plan.

Part of this plan is to establish 10 industry innovation precincts to drive collaboration and

innovation in areas where Australia firms can compete in overseas markets. The first

Manufacturing Precinct will be based in Clayton, which already contains strong resources to

build on in advance manufacturing.

The Precinct will build partnerships between industry, research organisations, universities,

large firms and government. This increased collaboration will help manufacturers adopt

best-practice technology and processes, harness innovation and create environments that

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support business growth. The establishment of the Manufacturing Precinct will encourage

and attract innovative businesses to locate in within the region.

The Strategy & Action Plan also takes into account the directions of the regional economic

strategy for Melbourne’s south east entitled “Prosperity in the Next Generation in

Melbourne’s South East 2009-2030”. The regional strategy was developed in conjunction

with 10 municipalities in the south eastern region and projects derived from the regional

strategy will reinforce the emerging strengths in knowledge intensive services and aid in the

continuing capacity for innovation amongst industries in the region.

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Business Demographics

There are about 16,320 businesses in Monash. Approximately 121,249 people are

employed in Monash based-businesses, making Monash the largest employment

destination outside the CBD.

Monash has a good mixture of small, medium & large businesses and various shopping

strips and retail complexes.

The manufacturing sector employs the most people in Monash, closely followed by Health

Care and Social Assistance, Education and Training, Retail Trade and Wholesale Trade.

It is noted that over 80% of businesses in Monash are run by a sole owner/operator or are

micro businesses employing four people or less. (Economy.id, 2009)

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Vision for Monash

The Strategy & Action Plan is aligned with the Council Plan and Monash 2021 to support the vision of Monash being –

“An inviting city, diverse & alive with activity, designed for a bright future”.

Council’s mission is “Making a difference through commitment, expertise & leadership” and the four key directions are:

Ensuring our City has Inviting Places & Spaces

Achieving a more healthy & Active Monash

Fostering Confident, Connected Communities

Taking Action for Our Future.

Council is focussed on ensuring services meet community needs and that the City’s

infrastructure and environment is maintained and improved so the City can continue to

strive to achieve the vision of an “Inviting City”.

Council continues to support the local business community and encourages ongoing

economic development and growth of local jobs. Forming partnerships and promoting local

businesses is critical in strengthening the local economy.

The Strategy & Action Plan has been designed to facilitate business growth, further

development and investment in Monash.

The key strategic areas of the Strategy & Action Plan are:

Business Support

Economic Precincts

Infrastructure Development & Sustainability

Attraction and Investment Strategies.

The Strategy & Action Plan outlines the approach Council will take to facilitate economic

growth, support businesses, improve liveability and increase attraction of businesses and

visitors to Monash.

The Strategy & Action Plan is aligned with the Council Plan and will focus on key directions:

“Ensuring our city has inviting places and spaces” by ensuring “Activity Centres across

Monash remain vibrant” and ‘Taking Action for our Future” by ensuring “Our local economy

is more resilient”.

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Economic Vision

The economic vision for Monash reinforces the City’s continued “First for Business”

approach and aims to be the first location for start-up businesses and the primary location

for all major businesses.

Monash will continue to be one of the largest employment hubs in the south eastern region

and strengthening the relationship with existing large businesses within the City. Attracting

more multinational companies to the area as well as focus on attracting innovative and

knowledge based businesses to the Technology Precinct increases the economic prosperity

of Monash.

With continued support to micro and small businesses, the Strategy & Action Plan aims to

have a renewed focus on:

Identifying and assisting home based businesses in their growth

Assist new innovation start-up companies connect with other businesses and

research organisations in the Monash Technology Precinct

Continuing investment in and promotion of the Technology Precinct

Focusing on the development of Activity Centres

Building relationships and partnerships with major businesses and community

groups

Attracting visitors to Monash to enjoy the food, recreational activities and

attractions that Monash offers and encouraging people who are visiting the area to

see family and friends to make purchases while in Monash and

Encouraging businesses to become more environmentally sustainable.

Strengths of Monash

Monash has many competitive advantages that contribute toward having a thriving and

sustainable local economy and being able to meet economic challenges.

These include:

Close proximity to the Melbourne CBD and the position as the gateway to the

rapidly expanding south-eastern growth corridor

Well educated skilled workforce with diverse linguistic backgrounds

Highly skilled residents attracted to Monash due to its liveability

Excellent education facilities with Monash University, Holmesglen TAFE and a

range of public and private colleges and schools based here

Excellent links to the Monash & Eastlink freeways and other major arterial roads

with well established infrastructure

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Good access to public transport including 2 train lines and a number of smart bus

routes along arterial roads

A substantial innovation cluster which includes the Australian Synchrotron,

CSIRO, Monash Medical Centre, Monash University’s Science, Technology,

Research and Innovation Precinct, Biota Holdings, Toyota Research,

Nanotechnology Victoria, the Australian Regenerative Medicine Institute and

Australian Stem Cell Centre

Strong corporate identity with many national and international headquarters

based in Monash, and

A diverse network of shopping and office precincts.

Key Economic Development Issues and Factors

Changes in demographics and global pressures such as rising energy prices all impact on

economic development.

The fragile global economic conditions, volatility in commodity prices and increasing

competition from emerging economies like China and India is changing the way we do

business. Also the high Australian dollar is placing pressure on many industry sectors and

this is causing concern with manufacturers, exporters and tourism industry.

Business Victoria states that innovation is recognised as the single most important

ingredient in a successful modern economy.

In the rapidly changing economy, innovation is required to maximise the future prosperity

of our economy and environment. Businesses are required to be more innovative and find

better ways to do things, create new products and find ways to solve existing problems. By

being innovative, business can create new and better quality products and services and

improve production processes.

With such emphasis placed on innovation, the emergence of high technology sectors and

ecommerce sees a strong demand for highly skilled employees. Council has a role in

fostering relationships between businesses and educational providers to ensure the

required skills are being obtained to sustain the growing demand and assist in closing the

skills shortage.

With the decline in traditional manufacturing, some large industrial buildings are nearing

the end of their economic life. This is placing pressure on Council to re-zone industrial land

for other uses including residential uses. Long term strategic direction is required for the

future planning and development of industrial sites to ensure Monash’s economy continues

to thrive.

Sustainability has become a key factor for businesses in recent times, especially with the rise

in commodity prices. Businesses need to become more environmentally sustainable to

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reduce their carbon footprint but also to reduce operating costs of doing business so they

can continue to compete domestically and internationally.

Changes in demographics and the ageing population are again going to change the

requirements of the community. Businesses will be required to support the changed needs

of its consumers and look at strategies to provide flexible work options for workers over 60

years of age to utilise their skills and experience and assist them in staying connected.

Role of Economic Development

The Economic Development Unit will be responsible for implementing the Strategy & Action

Plan, with assistance to be provided by other Council departments.

The Economic Development Unit provides strategic advice and recommendations to Council

departments and other stakeholders with the aim of strengthening the local economy.

The Unit facilitates new and existing businesses to improve their performance and

competitive edge by:

Providing information and support services to businesses

Supporting businesses in further education and training by conducting various

business workshop and seminars that assist businesses in their development and

growth

Supporting the Monash Business Awards program to provide networking

opportunities for businesses as well as recognising innovation

Facilitating the Economic Development Forum and maintaining a committee to assist

Council in making informed decisions

Working with Trader Associations to improve and promote Activity Centres

Encouraging sustainable business practices

Facilitating new business investment

Researching further economic development initiatives and

Working with the SEMIP steering committee to assist in the facilitation of the SEMIP

strategy.

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1. Key Strategic Direction - Business Support

Victoria is home to the second largest number of small businesses in Australia, representing

approximately 25.6% of the overall total (DIISRTE* Australian Small Business Key Statistics

and Analysis December 2012).

As of June 2011, there were approximately 522,896 small businesses in Victoria with small

businesses contributing to approximately 30% of Victoria’s total production. At the start of

2012-2013, there were approximately 3 million micro entities located in Australia with this

population turning over less than $2 million dollars a year (ATO Compliance Program 2011-

12 and ATO Compliance Program 2012-13). Monash has over 13,000 small businesses

employing 4 or less persons.

Data from the DIISRTE Australian Small Business Key Statistics and Analysis (December 2012)

states that the small business failure rate is approximately 40.3% in the first four years of

operation (June 2007-11). This highlights the strong and consistent support needed from

Council and other government entities to assist start up and small businesses in their initial

years of business.

1.1 Information and Support Services

Relevant and up to date information is vital in assisting businesses in making informed

decisions in an increasingly competitive environment.

Council needs to be proactive in sourcing up to date information to assist businesses in

making informed and effective decisions. This information may be about regulations they

are required to meet, grants that are available to support business growth or workshops

and seminars that can assist businesses in developing business plans.

Objective 1.1

Provide relevant information and services to businesses to encourage further growth and development.

Outcome 1.1

Businesses have access to up to date information via Council’s communication portals.

Actions Priority Timeframe

1.1.1 Further develop and enhance functionality of Council’s existing online business directory

High 2014 - 2015

*Department of Industry Innovation, Science, Research and Tertiary Education

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1.1.2 Investigate an online payment system to allow individuals to register and pay for events online

High 2014 - 2015

1.1.3 Establish programs to encourage partnerships between businesses and the local community and investigating the development of social enterprises

High 2013 - 2014

1.1.4 Provide an updated “Business Kit” resource for start up businesses

Low - Medium 2014-2015

1.1.5 Work in partnership with State and Federal Government Agencies to promote and facilitate assistance to small and medium sized businesses

High 2013 & Ongoing

1.1.6 Partner with the Small Business Mentoring Service and similar organisations to provide mentoring services and assistance to local businesses

Medium 2014-2015

1.2 Training Programs & Workshops

Further education and training are vital for the ongoing improvement of Monash

businesses. It is important for all businesses to continuously review their development

needs and to participate in appropriate training courses that will strengthen their capacity

and business skills.

Council partners with Small Business Victoria to deliver relevant training programs for

businesses and where there is a gap in training, experienced consultants are engaged to

facilitate training.

49.6% of respondents of the Monash Business Survey indicated their preference to have

access to certificate-certified courses that are linked with tertiary education institutions. It is

important to build on existing relationships with educational institutions to offer businesses

programs available.

It is also essential to strengthen relationships between educational institutes and businesses

to ensure relevant educational programs are conducted that meet industry standards. This

ensures that students receive the correct training and are ready to enter the workforce at

the conclusion of their studies.

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Objective 1.2

Continue to provide high quality educational workshops and seminars to enhance the skills of the current workforce.

Outcome 1.2

Relevant high quality workshops and seminars are offered and attended by local businesses.


1.2.1 Facilitate relevant training and educational workshops throughout the year as required with varying topics

High Ongoing

1.2.2 Build on relationships with local educational providers and the business community to assist in creating the pathway for students and existing employees in their work experience and accreditation

Medium 2014 & Ongoing

1.2.3 Strengthen partnerships with State & Federal Government agencies, local education providers and the Monash Enterprise Centre to facilitate training programs for start up businesses and to assist businesses in their growth.

Medium Ongoing

1.3 Marketing & Communication

It is vital to create effective two-way communication channels with the business community

in order to promote the “First for Business” presence.

Strong and active communication is needed to promote the business services and support

available to the local business community.

The growth in online communication means there is a need for a strong online presence as

well as traditional forms of communication.

Objective 1.3

Raise and strengthen the profile of Monash being “First for Business” through the promotion of Council’s business services, the celebration of achievements made by local

businesses and showcasing the City.

Facilitate and encourage communication with the business community so the Economic Unit is the first point of contact for all business related enquiries.

Outcomes 1.3

The business community are aware of business services available from Council.

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The Economic Unit is the first point of contact for all business related enquiries.


1.3.1 Refresh the “First for Business” branding for Monash

Low 2013-2015

1.3.2 Redevelop the Monash “First for Business” website

Medium 2013-2015

1.3.3 Investigate the creation of a Marketing Strategy to actively market the services provided by the Economic Development Unit

Medium 2014 &Ongoing

1.3.4 Creation of a Sponsorship document to generate support and assistance for large events such as the Annual Women in Business Exhibition and Luncheon

Low 2015 - 2017

1.4 Events & Networking

Networking opportunities are essential for business development. Networks provide

businesses with the ability to share information and gain access to other business products

and services. Smaller businesses have the opportunity to network with larger corporations

to keep up to date with the latest technologies and development.

Objective 1.4

Provide an environment where local businesses are connected to one another irrespective of business trade and industry. Provide suitable forums where valuable information can be shared and valuable working business relationships established.

Outcome 1.4

Local businesses are aware and have access to a range of forums & networks active in the City.


1.4.1 Provide ongoing support and promotion of the Monash Business Awards

High Ongoing

1.4.2 Provide ongoing support to the Economic Development Forum

High Ongoing

1.4.3 Promote and position the Women’s Business Network as a premier network for business women in the region

High Ongoing

1.4.4 Provide assistance to other networks in the region that assist businesses within

Medium Ongoing

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Monash

1.4.5 Support industry specific networking groups for businesses through SEMIP

Medium Ongoing

1.5 Business Month

The running of a series of events (over a month long period), that will provide businesses

with the opportunity to attend various specialised seminars and workshops as well as

networking events.

Objective 1.5

Establish and promote a Business Month that provides businesses with the opportunity to attend specialised and topic/industry relevant events and training programs.

Outcome 1.5

Businesses are aware and participate in specialised and topical events and training programs.


1.5.1 Preparation of a Action Plan to outline the project objectives, topics and funding requirements

Medium 2013-2014

1.5.2 Obtain sponsorship from local businesses to generate additional support and exposure for the events and training programs.

Low 2014 - ongoing

1.6 Tradeshows

Tradeshows provide an opportunity for businesses to showcase their services and products.

They provide an avenue for government departments to promote the assistance available to

businesses and to encourage businesses to build relationships with each other.

Tradeshows are important in connecting businesses across multiple industries together with

one another.

Objective 1.6

Provide an opportunity for local businesses across all industries and trades to showcase and exhibit their services to the public at a large scaled event. The aim is to promote

business connectivity and business support services and to strengthen relationships across all sectors.

Outcome 1.6

Businesses are showcasing products and services via exhibits and connecting with the local business community.

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1.6.1 Creation of a Marketing & Action Plan to promote the tradeshow

Medium 2014 -2015

1.6.2 During “Business Month”, hold a tradeshow open to all businesses in Monash across all industries where appropriate

Medium 2014 - ongoing

1.6.3 Include and promote the tradeshow as part of the Small Business Festival Month, held annually in August by Small Business Victoria where appropriate

Medium 2014 - Ongoing

1.6.4 Partner with government departments to exhibit and provide advice to businesses attending the tradeshow (e.g. Australian Taxation Office, Small Business Mentoring Service, Small Business Victoria etc).


1.7 Home-Based Business

The way people traditionally manage business has changed in recent times due to a number

of different factors including the rise of ecommerce. This in turn has seen a growth in the

number of businesses being operated from home.

People who work from home can have more flexibility with their working hours and these

arrangements can be more convenient, especially for those business operators who have

children. It also provides an opportunity to develop skills in a whole new field and start a

new career.

Objective 1.7

Support and assist home-based businesses to grow.

Outcome 1.7

Home-based businesses have access to relevant information and support.


1.7.1 Establish ways of identifying home-based businesses & identify their needs

High Ongoing

1.7.2 Provide a specialised information kit for home-based businesses

Medium 2015 - 2017

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1.7.3 Provide mentoring services to support home-based businesses in their growth


1.7.4 Create a home-based business network as a support system through the MEC

High 2015 - ongoing

1.8 Monash Enterprise Centre

The establishment of new businesses is vital for a vibrant and expanding regional economy;

however these businesses are most vulnerable to failure within their first few years of

operation. It is critical for the survival that new businesses receive support in establishing

sound business skills and practices.

The Monash Enterprise Centre is a significant business asset to Monash. The Centre is the

only business incubator in the south eastern metropolitan region that supports a significant

number of tenants (onsite and virtual) to establish and support new businesses.

The SEMIP strategy – Strategic Theme 3 – Exciting Places for People to Learn, Work, Live and

Invest – has listed ‘Innovation Hubs’ as an initiative. Council is seeking to extend the MEC to

create an Eastern Innovation Business Centre (EIBC) for the region. Government funding

has been applied for with the support of stakeholders in the region. If funding is successful,

the new building will include a reception, 25 offices, 2 workshop areas, 2 meeting rooms, an

open area, kitchen, toilets, car parking and landscaping.

The proposal will offer ‘virtual’ support to business, flexible license arrangements, expert

mentoring services, business training, ‘web-inar’ and ‘e-learning’ business development,

knowledge exchange, promotion and marketing, review of supply chains, advocacy,

partnerships, innovation and technology adoption, regional links, referrals and

administration and booking services.

Objective 1.8

Recognise, promote and support the work of the Monash Enterprise Centre.

Outcome 1.8

Local businesses and individuals are aware and utilise the services provided by the Centre.


1.8.1 Enhance and expand the existing Monash Enterprise Centre as appropriate

High Subject to funding

1.8.2 Promote the Centre’s services and assistance to home-based businesses who are wanting to move to

High Ongoing

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commercial premises

1.8.3 Promote the virtual membership offered by the Monash Enterprise Centre.

High Ongoing

2. Key Strategic Direction - Economic Precincts

Activity Centres and employment clusters will be the focus of major change in the next 30

years. The Victorian State Government is reviewing the Metropolitan Planning Strategy

(MPS) and a discussion paper has been prepared to generate debate and discussion among

Melburnians about the future of the City and will inform the MPS. The outcome of the MPS

will be taken into account with the implementation of this Strategy.

The Technology Precinct performs a specialised function outside of commercial, retail and

residential uses. Businesses within this precinct play a major role in the economic and

commercial viability of the city. The precinct is also recognised as a key employment hub

for south eastern Melbourne.

Council has commenced an audit of industrial land in Monash which will form the basis of an

Industrial Land Use Strategy. This strategy will provide the necessary strategic direction and

supporting analysis to support the future planning and development of industrial land

within the municipality.

2.1 Activity Centres

Activity Centres and employment clusters will be the focus of major change in the next 30

years.

Activity Centres provide the opportunity for redevelopment due to their strategic location

with regard to public transport and major infrastructure. They also provide attractive

environments and a focus for community activities and social life.

Council would like to see major activity centres be a hub where people meet and participate

in activities, with good access to public transport and parking facilities and with a range of

recreational, cultural and entertainment options.

There are several major activities centres in Monash that feature a mixture of retail,

commercial and community facilities. Glen Waverley serves as the Principal Activities

Centre within Monash, while Brandon Park, Clayton, Mount Waverley and Oakleigh operate

as Major Activities Centres.

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Pinewood, Wheelers Hill, Syndal and Waverley Gardens operate as Neighbourhood Centres.

In addition, there are several small community strip shopping centres within the

municipality such as those in Ashwood, Hughesdale & Huntingdale.

Trader Associations are integral in the development of shopping strips in activity centres.

Council needs to be proactive in partnering with Trader Associations to understand the

needs of their businesses in activity centres.

According to Business Victoria, there are approximately 35,780 retail businesses in Victoria,

who are responsible for employing 310,700 people, forming 10.9% of the State’s

employment. Retail Trade is the fourth largest industry in Monash employing

approximately 12,487 people (Economy.id, June 2012) and Council needs to be proactive in

promoting and assisting its retailers to ensure these businesses keep thriving and providing

jobs and services to the local community.

In July 2012 the State Government announced its $6million Streetlife Program designed to

inject new life into small retail businesses. With this program the State government intends

to partner with councils and business trader groups to support small retail businesses in

local shopping precincts throughout the state.

The four-year $6 million Streetlife Program for retailers will help develop their business and

marketing strategies, boost skills, and improve online and social media capacity in order to

increase customer traffic and sales. This is considered important having regard to the

growth of e-sales and the digital economy.

Council can also apply for funding to assist in strengthening trader associations that support

local small businesses to work together collaboratively to the benefit of the precinct.

The emergence of night time economy and alfresco style dining in activity centres such as

Glen Waverley and Oakleigh is creating expectations from the community regarding the

services and infrastructure that Council needs to provide. Council needs to focus on the

community’s ‘after hours’ requirements and will need to review infrastructure that is

required to support this particularly community safety at night. Supporting businesses to

ensure services are delivered to the community successfully is essential. Council will need

to partner with Trader Associations to work together to create the best results for the

community and businesses.

Placemaking is important in refreshing the ambience and relevance of Activity Centres. It is

crucial in the creation of good public spaces that promote people’s health, happiness, and

well being whilst taking into account the community’s needs and aspirations for the public

areas.

Objectives 2.1

Support the further development of a network of vibrant and economically viable Activity

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Centres which provide a range of retailing, commercial, entertainment and community services and spaces for residents and businesses.

Outcomes 2.1

Activity Centres across the City remain vibrant with a range of activities available for the community.

Strong partnerships between Council and Trader Associations are established and

maintained.


2.1.1 Encourage the establishment of active Trader Associations in Activity Centres to assist in the promotion and operational issues of the centres

Medium Ongoing

2.1.2 Create a campaign in conjunction with local traders to encourage local residents and visitors to make purchases locally


2.1.3 Partner with Trader Associations in developing business and marketing plans for each centre to increase visitation and usage


2.1.4 Create a marketing campaign with Trader Associations to encourage businesses in Activity Centres to decorate their shop windows during the festive season


2.1.5 Investigate a night time economy study Medium Subject to funding

2.1.6 Conduct Place-making analysis of various Activity Centres to identify strengths and needs and develop actions as appropriate

Medium Subject to funding

2.1.7 Upgrade public spaces and community assets in Activity Centres through Place-making programs as appropriate.


2.2 Major Developments within Activity Centres

With major change being promoted within activity centres, there is a need to plan and

manage these changes to ensure that the future viability and development of the activity

centres are optimised.

As the statutory authority and a major land holder within the larger centres, Council is well

placed to manage and direct future directions of these centres.

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The preparation of Master plans for key activity centres is crucial in understanding how to

further enhance and develop these Centres to derive the most benefit for the community

and business.

Council has commenced a Master Plan study of Glen Waverley which will assist in guiding

Council with the future development of the Centre and its future needs.

Objectives 2.2

To identify the needs of larger Activity Centres and encourage appropriate developments within the Centres to improve the viability of each Centre.

Outcomes 2.2

Improved viability and development of each Activity Centre.


2.2.1 Progress and implement actions identified within the Glen Waverley Activity Centre Master Plan project

High 2014 - Ongoing

2.2.2 Progress the construction of a major development on Council land within the Oakleigh Activity Centre at Hanover Street

High 2014 - 2017

2.2.3 Investigate potential development options within other Activity Centres and progress as appropriate

Medium Ongoing

2.2.4 Progress the preparation of Master plans for activity centres as appropriate

High Subject to funding

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2.3 Technology Precinct

The Monash Technology Precinct is one of only ten Specialised Activity Centres in

Metropolitan Melbourne. This precinct contains businesses and related research facilities

such as Monash University, Monash Medical Centre and the Australian Synchrotron.

The Technology Precinct performs a specialised function outside of commercial, retail and

residential uses. Businesses within this precinct play a major role in the economic and

commercial viability of the city. The precinct is also recognised as a key employment hub

for south eastern Melbourne.

Monash is a key stakeholder in SEMIP which focuses on the expansion of existing regional

innovation capabilities and networks.

SEMIP has significant potential and considerable strengths such as the Australian

Synchrotron, CSIRO’s largest Research and Development site, Melbourne Centre for

Nanofabrication as well as flagship companies – Toyota Research, BMW, Biota & Advanced

Polymer Technology to compete internationally.

SEMIP’s strategy also focuses on improving connections between businesses and between

businesses and research facilities.

Under the Federal Government Jobs Plan, 10 industry innovation Precincts will be

established in areas where Australian firms can compete in international markets. The first

Precinct identified is a Manufacturing Precinct based in Clayton which contains strong

resources to progress advanced manufacturing. The plan proposes that the Precinct will

enhance and further strengthen partnerships between industry, research organisations,

universities, large firms and government.

Council will continue to engage with SEMIP and assist in the implementation of the SEMIP

Strategy to achieve a strong innovation precinct with particular emphasis on Strategic

Theme 2 – Accelerating Business Innovation – with a key objective – Encourage leading

knowledge-intensive businesses with commercial, research or educational synergies to

locate within the region. This also applies to Strategic Theme 3 - Exciting Places for People

to Learn, Work, Live and invest with a key objective – Foster an entrepreneurial culture that

encourages people to invest and work in the region.

To achieve the vision of being “First for Business”, actions in the strategy have been

included to proactively promote the Monash Technology Precinct to facilitate further

investment in Monash as well as providing support networks for existing businesses to build

better relationships with existing businesses and research facilities. Council can play a

crucial role in assisting in creating connections between relevant businesses and research

organisations.

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Objective 2.3

To promote and encourage further investment in the Monash Technology Precinct as the primary strategic location for high technology research and development industries in

Victoria.

Outcome 2.3

Increased awareness of the Monash Technology Precinct nationally and internationally.


2.3.1 Create a marketing campaign for the existing and new Manufacturing precinct to encourage national and international investment in Monash by building on the strengths of the Technology Precinct to secure its long term future as a magnet for high technical research, development and industry

Medium – High 2014

2.3.2 Adopt a regional approach with Monash University, Southern Health, CSIRO, Australian Synchrotron, Department of Business and Innovation and the Department of Planning and Community Development in conjunction with other key stakeholders such as South East Metropolitan Innovation Precinct, to advocate for further investment in the Precinct

Medium - High Ongoing

2.3.3 Continue to collaborate with the SEMIP advisory committee and assist in the implementation of the SEMIP Strategic Plan

High Ongoing

2.3.4 Assist businesses to connect with other businesses or research institutes to further help develop their products

High Ongoing

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2.4 Industrial

The industrial precinct is a major employment hub within the City of Monash. This precinct

is under pressure for a change in use as a result of the rise in land value and the change in

activities.

Office accommodation and commercial industries are growing in Monash and replacing

larger industrial premises. There is also a trend for rezoning of some sites for residential

purposes.

Council has begun an audit of industrial land in Monash which will form the basis of an

Industrial Land Use Strategy. This strategy will provide the necessary strategic direction and

supporting analysis to support the future planning and development of industrial land

within the municipality. It will assist Council in considering rezoning proposals.

Objective 2.4

To support in the implementation of an industrial land use strategy to guide Council on the planning and development of industrial sites.

Outcome 2.4

Industrial areas in Monash are retained and strategy actions implemented.


2.4.1 Assist in the implementation of the Industrial Land Use Strategy

Medium 2014 - 2015

2.4.2 Advocate to the State and Federal governments to assist in the retention of manufacturing businesses within the municipality and State

Medium Ongoing

2.4.3 Advocate for the retention of industrial zoned land to provide future employment opportunities

Medium Ongoing

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3. Key Strategic Direction - Infrastructure Development &

Sustainability Monash’s strength lies in the municipality’s location as it links key transport corridors, as well as the continuous improvement and investment on the City’s roads and walking and cycling networks. Good transport infrastructure and clean, safe business and community environments are essential in encouraging economic development. By improving local roads, walking paths and cycling networks in the area, Council

encourages further uses of different infrastructure that will decrease the reliance on cars

and therefore decrease congestion of local roads.

The increasing pressure on natural resources, climate change and the increase in the

population around the world have made sustainability a key issue for not only the

community but businesses as well.

Businesses should have strategies in place to address their usage of materials and energy

and reduce their wastage.

It is therefore important for Council to promote and assist businesses in becoming more

environmentally sustainable to ensure environmental standards are being met and

businesses are reducing their usage.

3.1 Transport

Good transport infrastructure is an important element for the effective and efficient movement of people from their place of residence to their place of employment or recreation. It is also critical to the efficient movement of goods from their place of manufacture to the consumer. Excellent links to the Monash & Eastlink freeways and other major arterial roads & good

public transport options provides businesses within Monash direct access to the Melbourne

CBD and their consumer and employment markets.

Linking key transport corridors, as well as continuous improvement and investment on the City’s roads, walking and cycling networks is essential in encouraging economic development. Other adequate infrastructure including sufficient parking facilities is required in Activity Centres for visitors to ensure we continue to attract people to the centres.

Objective 3.1

Advocate for improved transport infrastructure that reduces traffic congestion and improves access to key employment hubs.

Outcome 3.1

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Increased awareness & usage of sustainable transport options within the City.


3.1.1 Advocate for better intra-city and intra-region public transport facilities to ensure adequate transportation is available to access Activity Centres and key employment areas

Medium Ongoing

3.1.2 Coordinate improvements to roads, walking and cycling networks with the ongoing redevelopment of the urban area

Medium Ongoing

3.1.3 Encourage the use of public transport and the various walking and cycling tracks in Monash to promote sustainable transport options

Medium Ongoing

3.1.4 Continue to invest in and improve car parking facilities in and around Activity Centres as appropriate

High Ongoing

3.2 Streetscapes

The appearance of the municipality, ease of access and good locality information are key in

providing a vibrant and attractive investment environment as well as attracting visitors to

Monash.

Objective 3.2

Provide a safe, clean, attractive and easily accessible environment which encourages ongoing business development and promotes community activities for the benefit of businesses,

residents and visitors to the municipality.

Outcome 3.2

Safe, clean, attractive & easily accessible environments utilised by the local residents and the business community as a desired space for work or undertaking community related activities.


3.2.1 Maintain and manage infrastructure around Activity Centres e.g. footpaths, street furniture, lighting and landscaping

High Ongoing

3.2.2 Implement and install consistent “way finding” boards, parking signs, suburb signage and Activity Centre & retail shopping strip signage throughout the municipality


3.2.3 Create and enhance public spaces within activity centres

Medium - High Subject to funding

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3.3 Sustainability

Environmental sustainability is becoming increasingly important to the everyday running of

businesses. Businesses are challenged to meet best practice environmental standards and

this coupled with high utility costs, places pressure on businesses to become more

sustainable.

In November 2012, the State Government announced a three-year $10million Smarter

Resources, Smarter Businesses funding program. The funding is available to medium-sized

businesses to assist in the improvement of resource efficiency as well as generating a

competitive edge in an economy where there is an increasing focus on sustainability.

Waste management is becoming an increasingly important issue for businesses in recent

times. Waste management plans and access to recycling facilities are increasingly required

by businesses in Monash.

Respondents from the Monash Business Survey (56.8%) indicated they required support in

creating waste management plans for their businesses while 43.6% of respondents stated

they would like Council to provide recycling facilities for businesses.

It is critical for Council to promote and assist businesses in becoming more environmentally

sustainable and promote and encourage businesses to apply for funding that is available.

Business education in sustainability is required to ensure businesses understand the

importance of sustainable business practices and how they will benefit from these practices.

Objective 3.3

To encourage and assist businesses in the implementation of best sustainable business practices.

Outcomes 3.3

Increased awareness and adoption of environmentally sustainable business practices.


3.3.1 Provide businesses with assistance in creating Waste Management plans


3.3.2 Support and provide information to businesses about accessing recycling facilities

High 2014 - ongoing

3.3.3 Provide educational programs on sustainability practices for businesses

High 2014 - ongoing

3.3.4 Promote Fair Trade initiatives to businesses and at community events

Medium Ongoing

3.3.5 Promote the “Monash Pride Crew” and Medium Ongoing

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its services to businesses in and around Activity Centres

3.3.6 Partner with Sustainability Victoria to assist businesses to make demonstrable energy and material savings, and to support the take-up of changed practices


3.3.7 Partner with Yarra Valley Water and South East Water and other water companies as appropriate to assist businesses in water wastage reduction projects


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4. Key Strategic Direction - Attraction and Investment Strategies

According to Tourism Victoria in 2010-11, tourism was estimated to be worth approximately

$15.9 billion to Victoria’s economy and directly generated approximately 118,000 jobs in

Victoria. Furthermore, the largest share of direct tourism employment (27%) was reflected

in cafes, restaurants and takeaway food services (Tourism Victoria, Economic Contribution

of Tourism to Victoria 2010-11) which represents the fourth largest industry section of

businesses located within the Monash municipality.

In accordance to Australian Job plan, as announced by the Australian Government’s Industry

and Innovation in 2012, Monash aims to create and retain business investment in Monash.

Monash will continue its support of the Department of Business and Innovation’s ‘Major

Project’s Assistance’ and ‘Invest Australia’ initiatives whose mission is to deliver projects

that achieve exceptional economic, social and environmental outcomes for the Victorian

community (www.dbi.vic.gov.au, October 2012).

4.1 Tourism

Tourism is a significant industry within Australia and a key component in generating funding

for essential economic infrastructure.

Visiting friends and relatives represent a large component of tourism spending in Victoria.

The aim of this section is to encourage the visitors to utilise local attractions and restaurants

in Monash rather than going in to the CBD. Encouraging residents to shop locally and

utilising local attractions, provides them with local options to entertain their guests while in

Monash.

An up to date food and accommodation guide showcases the many exceptional restaurants

and cafes in Monash and provides residents and visitors with an easy to use guide to dining

and accommodation in Monash.

Visiting family and friends of the large international student population in Monash provides

a potentially lucrative market for local businesses to tap into as well.

According to Tourism Victoria visitors from China, India and Indonesia represent a strong

growth market. Glen Waverley has a very distinct number of cafes and restaurants.

International visitors from Asian countries in particular are visiting Kingsway as part of the

tours they are on. This is another potentially large tourist market that can be tapped into by

local businesses in the area.

http://www.dbi.vic.gov.au/

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Objective 4.1

To encourage tourism development within the City in order to maximise employment and deliver long-term economic, social and cultural benefits. The aim is for Monash to be a

competitive domestic tourism destination and possibly, an international tourist destination.

Outcome 4.1

Increased awareness of the City as a competitive and attractive tourism destination.


4.1.1 Investigate the development of a Tourism Strategy and Action Plan

Medium 2015 - 2016

4.1.2 Redevelop the Food and Accommodation Guide and have it available electronically

Low 2014 - 2015

4.1.3 Enhance partnerships with key tourism organisations (Tourism Victoria, Destination Melbourne) to promote local tourism in Monash

Medium 2014 – ongoing Subject to funding

4.1.4 Identify and develop promotional material about local attractions to share with visitors to the municipality

Low 2015 - 2016

4.1.5 Investigate and implement, as appropriate, the development of potential local attractions to encourage people to visit Monash

Low 2015 - ongoing

4.2 Investment Attraction

Monash has a large amount of attractive resources with excellent transport linkages and a

comprehensive network of retail, entertainment, commercial and industrial premises.

Monash has a highly skilled, educated and multi-cultural resident workforce that can prove

attractive for companies locating to Monash as they have access this high skilled workforce.

Monash has an environment which is attractive to investors which fosters business growth.

Providing up to date information for businesses considering moving to Monash is crucial in

attracting multinationals to Monash.

Whilst the Federal Government is investing to keep manufacturing businesses in Australia,

the decline in traditional manufacturing and rise in innovative and service based businesses

is evident. Council should proactively attract new businesses to the area to create further

opportunities and strengthen the local economy.

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Council should also endeavour to retain existing businesses by providing advice and

guidance through the approvals process and with business re-locations in Monash.

Objective 4.2

To encourage new and further investment in Monash and to support existing businesses to stay in Monash and provide greater employment opportunities.

Outcome 4.2

Increased awareness of the City as an attractive and viable business location.

Support and assistance provided to existing businesses to remain in the City.


4.2.1 Investigate a Business Attraction and Retention Strategy and Action Plan

Medium 2014 - 2015

4.2.2 Investigate the development of an Investment Prospectus, highlighting Monash’s key assets to encourage further investment

Medium Subject to Funding

4.2.3 Partner with SEMIP to attract innovative and knowledge based businesses to Monash

Medium Ongoing

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Monitoring & Evaluation

This Strategy & Action Plan will provide Council direction for the next four years. To ensure

effective implementation of the Strategy & Action Plan, it is crucial for Council to monitor

the economic environment to ensure changing business needs are being properly addressed

and supported, as well as recognise and understand the importance of businesses within

the City.

What are the key expected outcomes?

The key outcomes of the strategy are:

Businesses provided with relevant and timely information and assistance when

required

Economic precincts remain viable and attractive for investment

The City is an attractive tourism destination

Initiatives as outlined in this strategy and action plan are delivered effectively on

time and within budget

Increased awareness of Council’s business products and services, and

Increased use of Council’s business services.

The Economic Development Team will monitor the implementation of the strategy by:

Undertaking a business survey to monitor usage of Council’s business services

Continuously reviewing the economic environment and government policies

affecting businesses

Investigating opportunities to improve services and implement new projects and

services, and

Preparing annual progress reports on the implementation of the Strategy to ensure

outcomes are being met – on time and within budget.

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Contact Details

Economic Development Unit

293 Springvale Road, Glen Waverley, VIC, 3150

PO Box 1, Glen Waverley, VIC, 3150

Phone: (03) 9518 3454

Fax: (03) 9518 3444

TTY: (03) 9518 3655

Email: [email protected]

Web: monash.vic.gov.au

(Monash language Assist diagram)

mailto:[email protected]

Documents

Economic Development Strategy 2013-2017 - City of … Tourism ... “An inviting city, diverse & alive with activity, designed for a bright future ... Key Economic Development Issues